Author: Sollcrypto
Cardano’s consensus team has made significant progress on the UTXO-HD project. Additionally, the Hydra and Mithril teams have released new features and tools to enhance network capabilities. Cardano has announced several key advancements aimed at boosting the performance of its native cryptocurrency, ADA. These advancements span core technology, scaling solutions, governance, and educational initiatives, highlighting a robust strategy for network growth and stability. UTXO-HD Project Speeds Up Consensus Mechanisms The consensus team has made significant strides in the UTXO-HD project, updating it to use simple diffs, which have considerably improved mempool benchmarks. They also released version 0.10.0 of the quickcheck-state-machine…
Last week, the SEC approved spot Ethereum ETFs, following the approval of Bitcoin ETFs. While the final approval is still pending, investors are already preparing for it. A CryptoQuant analyst reported that since the SEC’s approval of spot Ethereum ETFs, over 800,000 ETH, worth approximately $3 billion, have been withdrawn from crypto exchanges. The analyst noted that a similar situation occurred with Bitcoin in January. They believe that the ETH withdrawn from exchanges has likely been purchased by unknown individuals or institutions. The analyst suggested that the record outflow of 800,000 ETH, worth around $3 billion over eight days, could…
Guest Post by Tim Haldorsson, CEO of Lunar Strategy In just nine years, Ethereum has transformed from a pioneer in on-chain smart contracts and programmable crypto to the backbone of decentralized finance and blockchain infrastructure. The recent SEC approval of ETH ETFs marks a significant milestone, solidifying Ethereum’s status as a mature asset class worthy of serious investment consideration. In this op-ed, I will highlight the most promising sectors within the Ethereum ecosystem that angel investors should closely watch to capitalize on this economic momentum. Layer 2 Decentralized Finance (DeFi) Ethereum paved the way for the birth of decentralized on-chain…
The flagship cryptocurrency Bitcoin ($BTC) has been experiencing a significant influx of capital from whale wallets, with around $1 billion worth of BTC being added daily, according to blockchain data. This information comes from Ki Young Ju, CEO of cryptocurrency analytics firm CryptoQuant. On the microblogging platform X (formerly known as Twitter), Ju noted that this substantial accumulation suggests these funds are “likely custody.” In his post, Young Ju drew a parallel between Bitcoin’s current activity and the market behavior observed in mid-2020, preceding the 2021 bull run. During that period, Bitcoin’s price remained relatively stable, but on-chain activity, especially…
The on-chain analytics firm Santiment has explained how this Bitcoin indicator has been one of the top leading indicators in the cryptocurrency market. Bitcoin Holdings of Investors with At Least 10 BTC May Correlate with Price In a recent post on X, Santiment highlighted a metric that has historically been one of the leading indicators in the crypto sector: the total supply held by Bitcoin investors with at least 10 BTC in their wallets. With the current exchange rate, this threshold equates to around $683,000, indicating that these investors are significantly larger than typical retail holders. This group includes key…
In a bullish crypto market, it is common for long-term holders (LTHs) to sell their Bitcoin as prices surge. This trend was particularly noticeable from early 2024 until April. According to CryptoQuant, the supply held in 1-year and 2-year-old unspent transaction outputs (UTXOs) saw significant declines. However, despite the selling pressure on these UTXOs, the Bitcoin supply in UTXOs older than three years continues to grow. This indicates heightened long-term optimism among these holders. Over 50% of Bitcoin Supply Inactive for a Year, Indicating Long-Term Confidence For over a year, more than 50% of the entire Bitcoin supply has remained…
Recent data from blockchain analytics firm IntoTheBlock reveals that 84% of Dogecoin (DOGE) holders are currently in profit at the current market prices. This reflects positive sentiment for the popular meme coin and highlights the bullish momentum it has experienced over the past month. Currently, Dogecoin is priced at $0.1638. Although it has seen a slight decline of 0.80% in the past 24 hours, the cryptocurrency has enjoyed a substantial 16.09% increase over the last 30 days. This upward trend indicates growing investor confidence and suggests potential for further gains. Technical indicators point to bullish sentiment The technical indicators for…
On-chain data suggests the Ethereum whales have shown a burst of activity recently. Here’s what these titans have been up to. Ethereum Whale Transactions Reach Their Highest Level Since March In a new post on X, the market intelligence platform IntoTheBlock discussed the recent activity of ETH whales. The on-chain metric of interest here is the “Number of Large Transactions,” which tracks Ethereum transactions valued at more than $100,000. Such large transactions are typically associated with whale entities, as only they can make such significant movements. The Number of Large Transactions indicator helps determine whether this group is currently active.…
Ethereum’s price is expected to rise as the amount of ETH available on exchanges continues to decrease. Ethereum’s price surged on Tuesday morning amid growing expectations that the Securities and Exchange Commission (SEC) will approve ETH ETFs. The token has soared to over $3,700, rapidly approaching its year-to-date high of $4,090. Most analysts believe that the SEC will approve Ethereum ETFs from companies like Ark Invest, Blackrock, Franklin Templeton, and Invesco. Such approval would likely increase demand for Ethereum, similar to the surge seen with Bitcoin earlier this year. The iShares Bitcoin Trust (IBIT) is now the fastest-growing ETF globally,…
Ethereum price started a downside correction from the $3,150 zone. ETH is holding gains and might start another increase from the $3,000 support. Ethereum Price Remains Steady Ethereum’s price gained momentum after settling above the $3,000 level, mirroring Bitcoin’s performance. ETH even surpassed the $3,050 level before facing resistance near $3,150. A new weekly high was established at $3,144, but the price recently began a downside correction. There was a move below the $3,100 level, and Ether dipped below the 23.6% Fib retracement level of the upward move from the $2,927 swing low to the $3,144 high. Currently, Ethereum is…